Despite only a slight increase in overall sales so far this year, it’s a new day in paradise, some Ford Motor Co. dealers said Thursday. Business for them has seen a dramatic uptick since the coronavirus pandemic shut down cities and dealerships across America. With safety protocols in place and used car prices up, new car… Continue reading Ford dealer: Cars are the new version of toilet paper panic
Category: US Motoring Press
GM reports first-quarter sales gain, record prices despite tight inventory
General Motors reported Thursday its first-quarter new car sales inched up 4% in the United States on demand for full-size and midsized pickups and SUVs. GM said it sold 642,250 total new vehicles in the first three months of the year compared with 618,335 sold in the same period a year ago. GM also set a first-quarter record with average transaction… Continue reading GM reports first-quarter sales gain, record prices despite tight inventory
Ford CEO Jim Farley received $11.8 million in compensation in 2020
Ford Motor Co. CEO Jim Farley received $11.8 million in total compensation in 2020, the automaker reported in a Securities and Exchange Commission filing Thursday. That’s pro-rated to include the time he spent as president of new business, technology and strategy through the end of February, COO through the end of September, and as CEO beginning in October, when he took over… Continue reading Ford CEO Jim Farley received $11.8 million in compensation in 2020
Volkswagen apologizes for ‘Voltswagen’ April Fools’ marketing stunt
Volkswagen AG on Wednesday apologized for its announcement that it was renaming its U.S. operations “Voltswagen” — a marketing stunt that fooled some investors, analysts and journalists and sent shares up almost 9% on Tuesday. The German automaker’s stock closed down Wednesday, declining more than 3.6%. VW’s securities had been the hottest auto stock this month… Continue reading Volkswagen apologizes for ‘Voltswagen’ April Fools’ marketing stunt
Mercedes-Benz to start electric van production in US in 2023
The commercial-van unit of Daimler AG will build the next-generation eSprinter at its plant north of Charleston, South Carolina Go to Source
Payne: Lexus LF-Z concept signals measured electrification strategy
The vehicle is the first from Lexus on a dedicated battery platform, but Toyota’s luxury brand plans a more diverse approach than going all-electric Go to Source
Auto supplier BorgWarner expects EVs to account for almost 50% of revenue by 2030
The CEO of auto supplier BorgWarner told CNBC on Friday the company hopes to have nearly 50% of its revenues be tied to electric vehicles within the next decade. Currently, less than 3% of the Michigan-based firm’s sales are related to EVs. “Our assumption is that 30% of the vehicle will be battery electric in… Continue reading Auto supplier BorgWarner expects EVs to account for almost 50% of revenue by 2030
Jeep, Dodge maker Stellantis temporarily closing five North American plants due to chip shortage
A United Auto Worker member leaves the Fiat Chrysler Automobiles Warren Truck Plant after the first work shift on May 18, 2020 in Warren, Michigan. Gregory Shamus | Getty Images A global shortage of semiconductor chips is forcing Stellantis to temporally close five North American plants starting next week, the company confirmed Friday afternoon. The… Continue reading Jeep, Dodge maker Stellantis temporarily closing five North American plants due to chip shortage
Chinese electric car start-up Nio shuts factory for 5 days due to global chip shortage
Employees make checks at an inspection line during a media tour of the Nio Inc. production facility in Hefei, Anhui province, China, on Friday, Dec. 4, 2020. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car start-up Nio said Friday it is shutting a factory for five days due to the global… Continue reading Chinese electric car start-up Nio shuts factory for 5 days due to global chip shortage
Ford Can Be Sued in States Where Accidents Occurred, Supreme Court Rules
WASHINGTON — The Supreme Court on Thursday made it easier for consumers injured by products to sue their manufacturers, unanimously ruling that courts have jurisdiction over lawsuits filed in the consumers’ home states notwithstanding that the products were made and sold elsewhere so long as the manufacturers did substantial business in the states. The case… Continue reading Ford Can Be Sued in States Where Accidents Occurred, Supreme Court Rules